Our Client wants to file his ITR for A.Y. 2011 - 2012. However he dont have sufficient funds right now to pay tax. Also there is a tax liability for the said AY. Can I file such ITR without payment of SA Tax in full or in part?
What will be the legal implications? Can we file a revised return for the payment of SA tax afterwards?
Filing of ITR now for the AY 2011-12 is belated return.
Revised return for the belated return not possible.
Hence it is better to file ITR along with applicable tax and interest liability payment.
If tax liability not paid at the time of filing, then demand notices, possibility of selecting for scrutiny assessment and penal clauses applicable.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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